COVID-19 Relief Bill Temporarily Suspends Partial Termination Rules for 401(k) Sponsors By By Sean Deviney, CFP®
The Consolidations Appropriations Act of 2021, signed into law on Dec. 27, 2020, allows 401(k) plan sponsors to avoid triggering unintended partial plan terminations when they lay off more than 20 percent of their workforce between March 13, 2020, and March 31, 2021. This provision of the new law is welcome relief to the millions […]